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London midday: Bloomberg outage, Chinese regulations send stocks into the red

Fri, 17th Apr 2015 12:02

After a solid start UK stocks sank into the red by Friday lunchtime, moving further away from recent records amid a blackout on Bloomberg computer terminals and new regulations in China on short-selling.Bloomberg's trading and information units are heavily relied upon by roughly 320,000 people around the world and were thought to be affecting trading volumes.Meanwhile, China on Friday allowed fund managers to lend stocks for short-selling to boost the supply of shares."The news from China and the continued Bloomberg issues added to the already perilous situation in Greece to create an unfriendly trading environment at the end of the week," said Spreadex analyst Connor Campbell.The FTSE 100, which rose to a high of 7,093.52 early on, was down 0.65% at 7,014.37 by midday. The index had set a new all-time closing high on Wednesday at 7,096.78.All eyes continue to be on Greece as its debt crisis dominates proceedings at the International Monetary Fund-World Bank spring meetings in Washington.Pierre Moscovici, European Commissioner for economic and financial affairs, said there is no Plan B for Greece regarding a deal over a rescue package. Meanwhile, IMF managing director Christine Lagarde denied speculation that the IMF was willing to grant a delay on the repayment of loans due next month.Yanis Varoufakis responded by saying that Greece will "compromise, compromise, compromise without 'being' compromised".Data meets forecastsIn economic data on Friday, the UK unemployment rate fell from 5.7% to 5.6% in the three months to February, its lowest since July 2008 and in line with expectations. Weekly annual earnings growth picked up more than expected from 1.6% to 1.8%.The final estimate of the Eurozone consumer price index (CPI) confirmed that prices fell at a year-on-year rate of 0.1% in March, in line with initial readings but easing from a 0.3% drop in February.US inflation figures out later on are expected to show that prices stagnated again in March, with the CPI remaining at zero.Rolls-Royce and Astrazeneca riseEngine maker Rolls-Royce was among the best performers after winning its largest-ever order, worth $9.2bn, to provide Trent 900 engines and TotalCare service support to Emirates.Astrazeneca edged higher after its eye cancer treatment, selumetinib, was given 'orphan drug' status by US regulators, which should smooth its path to full approval.GKN was trading in the red after Exane BNP Paribas downgraded the stock to 'neutral'.Engineering and consulting outfit Ricardo was in demand after expanding its rail services with the £42.5m acquisition of consultancy and assurance business Lloyd's Register Rail.Shares in Applied Graphene Materials jumped after the graphene products group reported positive results from independent coatings trials.Market MoverstechMARK 3,205.44 -0.48%FTSE 100 7,014.37 -0.65%FTSE 250 17,602.55 -0.72%FTSE 100 - RisersSevern Trent (SVT) 2,144.00p +1.08%BP (BP.) 476.75p +0.70%Rolls-Royce Holdings (RR.) 984.50p +0.46%Pearson (PSON) 1,375.00p +0.36%Ashtead Group (AHT) 1,118.00p +0.27%Persimmon (PSN) 1,735.00p +0.12%Whitbread (WTB) 5,230.00p +0.10%Randgold Resources Ltd. (RRS) 5,085.00p +0.10%Sky (SKY) 1,048.00p +0.10%London Stock Exchange Group (LSE) 2,533.00p +0.08%FTSE 100 - FallersHikma Pharmaceuticals (HIK) 2,068.00p -2.73%St James's Place (STJ) 938.50p -2.09%Tesco (TSCO) 236.10p -2.05%GKN (GKN) 364.00p -1.78%Hargreaves Lansdown (HL.) 1,215.00p -1.78%Barclays (BARC) 255.95p -1.69%Schroders (SDR) 3,286.00p -1.68%Aberdeen Asset Management (ADN) 482.20p -1.59%3i Group (III) 497.90p -1.50%International Consolidated Airlines Group SA (CDI) (IAG) 563.50p -1.49%FTSE 250 - RisersHunting (HTG) 630.00p +4.74%QinetiQ Group (QQ.) 204.00p +4.56%Debenhams (DEB) 87.95p +3.59%Zoopla Property Group (WI) (ZPLA) 197.90p +2.06%Laird (LRD) 352.50p +1.73%Pennon Group (PNN) 849.50p +1.68%WH Smith (SMWH) 1,407.00p +1.59%Playtech (PTEC) 786.50p +1.22%Soco International (SIA) 184.70p +1.15%Countrywide (CWD) 532.00p +1.14%FTSE 250 - FallersEvraz (EVR) 196.10p -4.53%Rotork (ROR) 2,536.00p -4.05%Indivior (INDV) 206.10p -3.38%Ocado Group (OCDO) 354.00p -3.28%Henderson Group (HGG) 286.10p -3.18%Allied Minds (ALM) 676.50p -3.01%NMC Health (NMC) 704.50p -2.96%Supergroup (SGP) 958.00p -2.94%FirstGroup (FGP) 100.40p -2.52%Kaz Minerals (KAZ) 235.70p -2.48%
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UK stocks dropped sharply on Friday with the FTSE 100 finishing below the 7,000 level for the first time in seven sessions, after a terminal blackout and changes in Chinese trading regulations. After a positive start, the Footsie ended 65.82 points lower (-0.93%) at 6,994.63, its lowest finish since

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